No images? Click here Good news for the development of affordable housingInsight from Elyse D. Cherry, CEO of BlueHub Capital2020 exposed, yet again, the hazards of our country’s affordable housing shortage, but a change in federal law will give a significant boost to funding affordable housing developments. The new provision establishes a permanent 4 percent floor under the Affordable Housing Tax Credit that will help close the funding gap for affordable housing and provide more predictability and flexibility in affordable housing finance. Plus, our new Secretary of the Treasury, Janet Yellen, is good news for the CDFI industry and the communities we serve. Read more about how these recent changes will impact the industry. Be well, Elyse D. Cherry Survey: How do you want to receive our Annual Report?Our 2020 Annual Report is set to be released this spring. How do you want to read about our work and impact: online or paper copy? Advocating for greater access to solar energy for people with low incomesBlueHub Energy is successfully pushing for changes to Massachusetts state policy that will remove barriers to solar energy for low-income residents. These key provisions were included in a sweeping climate change bill that was passed by the Massachusetts state legislature in January. The legislation will allow thousands of households in Massachusetts to access affordable, clean solar energy for the first time. In order to address the impacts of climate change, we believe people of all incomes need to be part of the solution. More to come! BlueHub welcomes Lubna Maria Elia as its first Chief Administrative OfficerWe started 2021 with an important new hire! Lubna Maria Elia joined BlueHub Capital as its first Chief Administrative Officer in January. Lubna will focus on talent management, administration, and continuing to promote inclusive excellence in the workplace to support the growth of BlueHub’s current and emerging initiatives. We are thrilled to have her on our team. Read more about Lubna’s experience. PPP loans available through BlueHub Loan FundBlueHub Loan Fund is partnering with Community Reinvestment Fund (CRF), a nonprofit CDFI and Small Business Association-qualified lender, to increase access to Payroll Protection Program (PPP) loans. Organizations do not need to be a current BlueHub Loan Fund borrower in order to apply. BlueHub Loan Fund is committed to doing its part to support vital community resources through this unprecedented and difficult time. Find more information about the application process here. Borrower Spotlight: The Swift Factory is an economic hub in Hartford, CTBlueHub Capital provided over $15 million in financing to transform an abandoned factory in the Northeast neighborhood of Hartford, CT into a facility that houses local businesses, generates jobs, and increases local prosperity. Construction of the 82,000-square-foot development was completed in October 2020. The Swift Factory offers office space, incubator space for small businesses, and commercial kitchens. Just a few months after opening, most available spaces have been leased and 80 percent of tenants on the campus are owned by people of color. Read more about the Swift Factory’s impact on the neighborhood.
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